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Nov 17, 2006

Neuro-Hitech Purchases Q-RNA for over $11M

  • Neuro-Hitech entered into a definitive merger agreement to acquire Q-RNA. Currently, Q-RNA is developing a series of novel compounds that target beta amyloid (A-beta) and are designed to halt or reverse Alzheimer's disease caused by A-beta. In addition, Q-RNA is developing a series of novel compounds for epilepsy.

    Upon the closing of the merger, L. William McIntosh, president and CEO of Q-RNA, will join Neuro-Hitech's as COO. Neuro-Hitech will also employ Q-RNA's discovery and development medical team.

    The merger consideration will consist of an aggregate of 1,800,000 shares of Neuro-Hitech common stock, warrants to purchase up to 700,000 shares of Neuro-Hitech common stock at an exercise price of $13 per share, and warrants to purchase up to 700,000 shares of Neuro-Hitech common stock at an exercise price of $18 per share.



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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

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